26 March 2015 Insurance

United Insurance offers TWIA policy takeout

Property and casualty insurance holding company United Insurance is participating in the Texas Windstorm Insurance Association (TWIA) depopulation programme.

Its subsidiary, UPC Insurance, has mailed offers of coverage to the agents of record on nearly 60,000 TWIA policies.

UPC Insurance said it will offer “the same or better coverage as TWIA, including automated renewals, convenient payment plans, improved policyholder rights consistent with the voluntary market, and the financial strength of a reinsurance program that goes up to the 1-185 year level combined with the transparency of a publicly traded company”.

John Forney, president and chief executive officer of UPC Insurance, said: “Since 1999, we’ve worked hard to be the premier provider of property insurance in coastal states with our unwavering commitment to Keep the PromiseSM to our agents and policyholders.

“Our company has paid claims on 16 separate tropical storms and hurricanes during our 16-year history, while consistently growing our financial strength. We are pleased to be able to offer that track record of reliability and financial security to existing TWIA policyholders and their agents.”

“We have been writing actively in Texas since December 2013 and look forward to continuing to grow our book of business in this important state,” Forney added.

Jennifer Armstrong, TWIA director of compliance and communications, added: “The purpose of TWIA’s depopulation program is to create opportunities for TWIA policyholders to access additional coverage options through other carriers. UPC’s announcement evidences that the program is working.”

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